Zee Entertainment shareholders to invest $261 million in fundraiser

June 16 (Reuters) - Indian broadcaster Zee Entertainment (ZEE.NS), opens new tab on Monday approved a fundraise through the issue of fully convertible warrants worth 22.37 billion rupees (about $261 million) to certain shareholders.
Zee will issue up to 169.5 million fully convertible warrants on a preferential basis to Altilis Technologies and Sunbright Mauritius Investments, in one or more tranches.
The fundraise is part of Zee's plan to build its core business and invest in high-potential emerging segments, the company said, without expanding on the details.
The development also comes as Zee tries to stabilise its operations and focus on digital growth after many efforts including cost cuts, trimming staff, and investing in new content to regain ground after the fallout from last year's failed merger with Sony's (6758.T), opens new tab Indian assets.
The total promoter shareholding post the fundraise will increase to 18.39% from 3.99% as of March-end 2025, Zee said.
($1 = 85.8080 Indian rupees)

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Rotten Tomatoes for instance have handed the movie an impressive 94 percent critic approval rating after rounding up the thoughts of more than 91 film reviewers. The Daily Mail's Brian Viner was incredibly impressed after watching the series' latest gory installment, dubbing the movie the 'best post-apocalyptic horror-thriller film I have ever watched'. Brian wrote: 'With the terrifying and electrifying 28 Years Later, director Danny Boyle and writer Alex Garland have delivered the best post-apocalyptic survivalist horror-thriller film I have ever seen. Which sounds like limited praise, yet it's a much more crowded field than you might think.' Robbie Collin in The Telegraph also handed 28 Years Later a rave review, with the critic scoring the 'terrifying' horror movie five stars out of five. 'Garland employs a strain of peculiarly British pulp humour - very 2000 AD, very Warhammer 40,000 - to undercut the ambient dread,' Collin wrote. 'And flashes of Arthurian fantasias and wartime newsreel footage (as well as a pointed double cameo for the now-felled Sycamore Gap tree_ serve as regularly nudges in the ribs as he and Boyle ty with the notion of a 21st century British national myth.' The film too received five stars from The Times critic Ed Potton, who hailed Jodie Comer's 'impressive as always' performance. The journalist wrote: 'Is this the most beautiful zombie film of them all? It's hard to think of another that combines such wonder and outlandishness with the regulation flesh-rending, brain-munching and vicious disembowelment.' The BBC 's Caryn James gave the highly-anticipated film four stars out of five as she dubbed Ralph Fiennes's performance 'scene-stealing'. '28 Years Later is part zombie-apocalypse horror, part medieval world building, part sentimental family story and - most effectively - part Heart of Darkness in its journey towards a madman in the woods,' she wrote. 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The Times (FIVE STARS) Rating: Jodie Comer is impressive as always in the latest instalment of the post-apocalyptic series The Telegraph (FIVE STARS) Rating: This transfixingly nasty zombie horror sequel, starring Jodie Comer and Ralph Fiennes, is Danny Boyle's best film in 15 years The Evening Standard (FIVE STARS) Rating: Jodie Comer, young Alfie Williams and Ralph Fiennes have a monsters' ball in this supercharged third outing for the 28 Days Later series BBC Culture (FOUR STARS) Rating: Alex Garland and Danny Boyle have reunited for a follow-up to their 2002 classic. It has visual flair, terrifying adversaries and scene-stealing performance from Ralph Fiennes. Empire (FOUR STARS) Rating: The sequel we needed is both the film you expect, and the one you don't. There's blood, but also real guts and brain and heart - visceral cinema soaked in viscera. The Guardian (THREE STARS) Rating: This tonally uncertain revival mixes folk horror and little-England satire as an island lad seeks help for his sick mum on the undead-infested mainland. The Independent (THREE STARS)